Trilogy Metals (TSE:TMQ) Price Target Lowered to C$7.50 at National Bank Financial

Key Points

• National Bank Financial cut its price target for Trilogy Metals to C$7.50 (from C$9.50) with a "sector perform" rating, implying roughly a 26% upside from the stock's midday price of C$5.95.
• Analyst views are mixed but the consensus rating is a Moderate Buy with an average target of C$7.00, as brokers range from Strong Buy to Hold on TMQ.
• Insider buying: Olav Langelaar purchased 6,000 shares at C$4.64, boosting insider ownership to 17.86%; the company has a C$1.03 billion market cap and remains loss-making (negative P/E) with expected FY EPS of -0.07.

Trilogy Metals (TSE:TMQ - Get Free Report) had its price target reduced by equities researchers at National Bank Financial from C$9.50 to C$7.50 in a report released on Wednesday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the stock. National Bank Financial's price target would indicate a potential upside of 26.05% from the company's current price.

Several other brokerages have also recently weighed in on TMQ. Cormark upgraded Trilogy Metals from a "hold" rating to a "moderate buy" rating in a report on Thursday, December 18th. Raymond James Financial raised shares of Trilogy Metals from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 6th. TD Securities cut shares of Trilogy Metals from a "buy" rating to a "hold" rating and lowered their price target for the company from C$8.50 to C$8.00 in a research report on Friday, February 20th. Finally, Freedom Capital raised shares of Trilogy Metals to a "strong-buy" rating in a research report on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of C$7.00.

Trilogy Metals Stock Performance

TSE:TMQ traded up C$0.23 during midday trading on Wednesday, hitting C$5.95. The company's stock had a trading volume of 223,541 shares, compared to its average volume of 559,642. The firm has a market cap of C$1.03 billion, a P/E ratio of -21.25 and a beta of 1.67. Trilogy Metals has a fifty-two week low of C$1.59 and a fifty-two week high of C$15.21. The firm's 50 day moving average is C$5.47 and its 200-day moving average is C$6.30. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.46 and a quick ratio of 5.25.

Trilogy Metals (TSE:TMQ - Get Free Report) last posted its earnings results on Thursday, April 2nd. The company reported C($0.05) EPS for the quarter. Equities analysts anticipate that Trilogy Metals will post -0.07 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Olav Langelaar acquired 6,000 shares of Trilogy Metals stock in a transaction dated Thursday, March 19th. The shares were acquired at an average cost of C$4.64 per share, for a total transaction of C$27,840.00. Following the completion of the purchase, the insider owned 17,000 shares in the company, valued at approximately C$78,880. The trade was a 54.55% increase in their ownership of the stock. 17.86% of the stock is owned by company insiders.

Trilogy Metals Company Profile

Trilogy Metals Inc is a metal exploration and development company which holds a 50 percent interest in Ambler Metals LLC, which has a 100 percent interest in the UKMP in northwestern Alaska. On December 19, 2019, South32 Limited, a globally diversified mining and metals company, exercised its option to form a 50/50 joint venture with Trilogy. The UKMP is located within the Ambler Mining District which is one of the richest and most-prospective known copper-dominant districts in the world. It hosts world-class polymetallic volcanogenic massive sulphide ("VMS") deposits that contain copper, zinc, lead, gold and silver, and carbonate replacement deposits which have been found to host high-grade copper and cobalt mineralization.

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